KUALA LUMPUR: MIDF Amanah Asset Management Bhd, the asset management arm of Malaysian Industrial Development Finance Bhd (MIDF), has acquired Asia Unit Trusts Bhd (AUTB), formerly MIDF Group’s unit trust management division.
The effective transfer of business, completed in January, is expected to allow greater synergy and result in better client service.
In a statement, MIDF said, via the acquisition, it has taken over the management of AUTB’s six unit trust funds and have rebranded them to reflect a change in the corporate identity.
“MIDF Amanah Asset Management Bhd will now be known as MIDF Amanah due to the rebranding exercise involving the three core businesses within the group,” it said. — Bernama